New Delhi, Apr 18 (KNN) External Affairs Minister S. Jaishankar on Monday said that India and Russia are considering to improve maritime connectivity to enhance bilateral trade.

Addressing the India-Russia business dialogue organised by industry body FICCI, the minister said "We are discussing the importance of connectivity and the north-south and maritime corridors have been considered."

External Affairs Minister also informed that the two countries are also in discussion on payment issues like international trade settlement in the Indian rupee.

Talking about trade imbalances, Jaishankar said, "There are understandable concerns about trade imbalance and we need to work with our Russian counterparts to address this imbalance. We should be honest about short and medium-term challenges. There could be over-compliance."

He further said that there is a need to motivate business on both sides.

"You can see that there are big changes going on like 'Make in India'. We are determined to make India a global manufacturing hub. I want to emphasise on the opportunity of 'Make in India'," Jaishankar added.

Denis Manturov, Russian deputy prime minister as well as industry and trade minister was also present on the occasion.

Speaking on the occasion, Manturov said, "Because of a lack of imports from India, it's not enough to use Rupee. We need to boost trade from India. In this case we are looking at balance, like for example, we have with China - we have 200 billion dollars trade with China and it's balanced."

Jaishankar pointed out that "Our partnership today is a subject of attention and comment, not because it has changed but because it hasn't. We share a commitment to a multipolar world.”

“Russia is looking towards Asia and for India, it could mean broadening of ties. What we make of the current situation depends very much on us,” he added.  (KNN Bureau)